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EurAnalysis Kindergarten 24 replies

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EurAnalysis

  • #33,001
  • May 29, 2012 12:27pm May 29, 2012 12:27pm
Quoting ejiexe
I took EU @ 2549. at the rally and I am already @ BE. So let see if this could take us to 2460 area.

Waooooooooo. Just came back and see that the TP has been reached
Thanks to PT for all the advice. I am now a patience trader. I also plan trade and trade plan. PT
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #33,002
  • May 29, 2012 12:30pm May 29, 2012 12:30pm
Quoting ejiexe
Waooooooooo. Just came back and see that the TP has been reached
Thanks to PT for all the advice. I am now a patience trader. I also plan trade and trade plan. PT
hmm.. what if theres no PT? u still claim a patience trader?
redsword11, IfMyante, KennyZ, bumapatria, JohnPaul77 made my trading style.
  • #33,003
  • May 29, 2012 12:31pm May 29, 2012 12:31pm
Quoting ejiexe
Waooooooooo. Just came back and see that the TP has been reached
Thanks to PT for all the advice. I am now a patience trader. I also plan trade and trade plan. PT
Very well done. See? It's so easy

http://www.mysocalledsensorylife.com...asy_button.jpg
Those who say it cannot be done should not interrupt those who are doing it
  • #33,004
  • May 29, 2012 12:32pm May 29, 2012 12:32pm
Just wanted to said..

there is no reversal sign at daily yet,,no sign at all,what am see is a lot pushing down PA
if the price keep going lower doesnt mean you can keep buying
If there was easy money lying around,no one would be forcing it into your
  • #33,005
  • May 29, 2012 12:32pm May 29, 2012 12:32pm
gold just down again ,im sure a lot of people on bull hit sl xD (@15Min)
redsword11, IfMyante, KennyZ, bumapatria, JohnPaul77 made my trading style.
  • #33,006
  • May 29, 2012 12:45pm May 29, 2012 12:45pm
Quoting FXMindset
Just wanted to said..

there is no reversal sign at daily yet,,no sign at all,what am see is a lot pushing down PA
if the price keep going lower doesnt mean you can keep buying
Absolutely right
And I dont think there will be any reversal sign until there will be some type of solid good news or hopium....Let see how D1 closes today...
Bulls Run. Bears Bite. We Profit.
  • #33,007
  • Edited 12:46pm May 29, 2012 12:45pm | Edited 12:46pm
Quoting PipTrapper
Very well done. See? It's so easy

http://www.mysocalledsensorylife.com...asy_button.jpg
Unfortunately, I'm back to square one. Haven't had a margin call, but I have lost some money (Not much, I am starting with a small account.) I don't have the patience I tought I had. I don't follow through with my plans and I'mstill trading AGAINST trends. I say to myself, "don't sell at te bottom of price action," but I don't think I know where that is because I keep missing downward moves, the whole month . Why?

I am reading "Market in Profile: Profiting from the auction process" by Dalton, Jones, and Dalton on the Bell curve, fairvalue in the market, etc. Does anyone use Market profiling as part of their strategy?

Also Reading "Mind over Market" by the same auther
Do what you are afraid to do -Emerson
  • #33,008
  • May 29, 2012 12:53pm May 29, 2012 12:53pm
i discovered something.. ecn broker characteristic , if u have running order and want to modify it , see 'words' in the bottom of 'Modify' button , if it says 'SL or TP u set must be blablabla by at least 0(zero) pips.' < thats true ecn broker (check mbt and dukascopy). If it says '...by at least 20pips/30pips/etc' = market maker
redsword11, IfMyante, KennyZ, bumapatria, JohnPaul77 made my trading style.
  • #33,009
  • May 29, 2012 1:00pm May 29, 2012 1:00pm
Well this was a pleasant surprise waking up to my 3 EJ Trades all well in to green pips now!

Only 207 more pips to go...
  • #33,010
  • May 29, 2012 1:03pm May 29, 2012 1:03pm
Show us your wave.
  • #33,011
  • May 29, 2012 1:13pm May 29, 2012 1:13pm
Quoting 100PipsADay
Well this was a pleasant surprise waking up to my 3 EJ Trades all well in to green pips now!

Only 207 more pips to go...
Don't forget to take partial profit.
Those who say it cannot be done should not interrupt those who are doing it
  • #33,012
  • May 29, 2012 1:15pm May 29, 2012 1:15pm
Quoting rekon67
Show us your wave.
The wave is sick. No wave today. Just a big hole.

http://images.clipartof.com/small/21...-Art-Print.jpg
Those who say it cannot be done should not interrupt those who are doing it
  • #33,013
  • May 29, 2012 1:15pm May 29, 2012 1:15pm
Quoting rekon67
Show us your wave.
Two of these positions were open due to PT's EJ recommendation a few days ago.

I added one more sell order on the gap up a few days ago.
  • #33,014
  • May 29, 2012 1:18pm May 29, 2012 1:18pm
Does this look like a good plan?

Solely technical: After the drop past 2516-2509 I believe this area has turned from support to resistance. Though I have traded poorly this month, my observation have ben that, during this trend, a few times a week (Twice this week already. The EUR/USD goes up to one of a few areas of resistance before continuing down, especially if the resitance level has not been tested.

I know without a doubt thisarea will send prices down, but NO IDEA HOW FAR. Possibilities are down to 2500, 2485, 2460, or just keep going down. My S/L is above that junk at 2550 or more conservative at yestureday's close ~2533. The only reasons I think this trade would fail is hopium, amazing EUR news, or not picking a good S/L level and being stopped out. Also if my target is too high.

Comments?

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Do what you are afraid to do -Emerson
  • #33,015
  • May 29, 2012 1:23pm May 29, 2012 1:23pm
Quoting Pip_Warrior
Does this look like a good plan?

Solely technical: After the drop past 2516-2509 I believe this area has turned from support to resistance. Though I have traded poorly this month, my observation have ben that, during this trend, a few times a week (Twice this week already. The EUR/USD goes up to one of a few areas of resistance before continuing down, especially if the resitance level has not been tested.

I know without a doubt thisarea will send prices down, but NO IDEA HOW FAR. Possibilities are down to 2500, 2485, 2460, or just keep...

Normally this is what happens, support lines turn into resistance lines. So far, it looks as though the S1 line of 1.248 is holding well as resistance.

But you are also right, that a good dose of hopium could send this puppy up, how far up, not too sure. But I don't think it can go much higher than 1.2623 which is the previous 2012 low. It has tried to break the resistance at 1.2623 but with no luck!

I personally think you are safe, but I am not an expert!
  • #33,016
  • May 29, 2012 1:30pm May 29, 2012 1:30pm
I'm off to bed. G9 to all! See ya tomorrow!
  • #33,017
  • Edited 1:58pm May 29, 2012 1:36pm | Edited 1:58pm
Quoting Pip_Warrior
Does this look like a good plan?

Solely technical: After the drop past 2516-2509 I believe this area has turned from support to resistance. Though I have traded poorly this month, my observation have ben that, during this trend, a few times a week (Twice this week already. The EUR/USD goes up to one of a few areas of resistance before continuing down, especially if the resitance level has not been tested.

I know without a doubt thisarea will send prices down, but NO IDEA HOW FAR. Possibilities are down to 2500, 2485, 2460, or just keep...
I have analyzed all the possibilities I can think of from an H4 and above perspective. The studies are definitely stretched and a correction is needed before one can rely on a good move further down. I'm not saying it will not move down. I'm just saying that here is not a good place to enter. I prefer a true and tested resistance such as 1.2550/70 area or 1.2600/20 to get the maximum bang for buck out of a trade. In fact my sell limit order is placed at 1.2618 right now. Before moving it down, I want to see how price behaves at 1.2510/20 area. I may take a risk by entering lower if I am comfortable with the PA and the fundies at the time, but my preference is to stick with what I have already planned. That's my view.

ADD: Remember we have a perfectly formed bullish butterfly harmonic pattern on H1 and it has yet to be invalidated. Normally one would expect a 161.8% retrace on one of these patterns. However, these are special times so we won't get that much. 61.8% to 100% is more realistic.

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Those who say it cannot be done should not interrupt those who are doing it
  • #33,018
  • Edited 2:26pm May 29, 2012 1:42pm | Edited 2:26pm
I missed all the fun. I was out of office all day. So the path is clear as expected Now my near term targets are 1.243, 1.240, 1.239. Until now last target 1.218 before a rebound. I am putting other short posicion on 1.2495 I hope the market takes it.
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Stocktwit: LuisCarlos - twitter: @lcparodi
  • #33,019
  • May 29, 2012 1:46pm May 29, 2012 1:46pm
Quoting rekon67
Show us your wave.
I cant It is for 18 years old+
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #33,020
  • May 29, 2012 1:49pm May 29, 2012 1:49pm
Quoting Luis Carlos
I cant It is for 18 years old+
LOL
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